IndigoVision announces record first quarter results, a 33% increase of camera sales

IndigoVision announced a record first quarter result of a 33% increase of camera sales and, several major project wins including the overlay system for the 2014 FIFA World Cup in Brazil

“Market feedback on the IndigoVision cameras has been magnificent,” stated Marcus Kneen, IndigoVision Chief Executive Officer, “Our Enhanced HD cameras consistently win technical shoot-outs by delivering better quality video in even the most challenging lighting conditions and were voted one of the best new security products at the 2013 ASIS trade show in Chicago.”

“IndigoVision continues to invest significantly in technology and will shortly announce the launch of a 20 Megapixel camera, the first ultra-high resolution camera that delivers the video quality that the security industry demands. Feedback from initial installations has been extremely positive with the camera outperforming competitors due to stunning picture detail and an unparalleled image speed of 120 Megapixels per second.”

IndigoVision also announced major project wins for city surveillance in Malaysia, Sao Paulo International Airport and the third project for the 2014 FIFA World Cup. These project wins continue IndigoVision’s established pedigree for complex security projects and events, with IndigoVision’s technology being deployed for the FIFA World Cup in 2006 and 2010 as well as every Olympic games since 2004.

Group revenues for the first quarter were 14% higher than the corresponding period last year. Margins were maintained in line with last year and, as planned, overheads increased following last year’s 30% increase in sales and pre sales headcount. Notwithstanding these cost increases, the combination of better sales and solid margins resulted in net operating performance for the first quarter being comfortably ahead of the corresponding period last year.